MADRID | The problem is that some eurocrats seem unable to realise the consequences of their irresponsible talk when they land jobs on the top of the European pyramid.
Articles by Miguel Navascués
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MADRID | The eurozone is trapped in internal conflicts that prevent the European Central Bank to compensate, as it should, the fluctuations of money demand.
MADRID | In Italy, as in other southern eurozone countries, citizens cannot believe there will be light at the end of the austerity tunnel.
Is Ireland such a good model to follow as Brussels would like the rest of the euro periphery to believe? The latest financial creative engineering to trim Irish public debt tells us that reality is quite different, and the eurozone still needs to find a long-term programme to solve its problems.
Spain tends to be one of those countries with external deficit as it is in need of capital goods. And this is all right if it’s financed with, say, direct investments.
Our welfare depends on finding more affordable production systems, too, because it frees capital and human workforce that can be used in other fields. This is how an economy improves.
In the current environment of huge indebtedness and low inflation, with sizeable unspent resources, a strong euro adds insult to injury.
Public spending can be cut down particularly when there is growth and economy expands. One has only to look at the US’ GDP to learn a powerful lesson: austerity untimely implemented does more harm than good.
Why has gas prices in Europe escalated up so much more than in the US? Why should taxpayers fill the gap when politicians play with green magic that turns unaffordable? Renewable energy sounds right but costs should be explained.
Austerity is increasingly becoming a danger, not only for the euro peripheral economies, but for the rest of the developed economies, too. Will the European Central Bank take action?